From OilPrice:
Vladimir Putin has spent his week cozying up to the Organization of Petroleum Exporting Countries (OPEC) and dissing the United States’ oil industry, dismissing shale oil production as a “barbaric” process. At the same time, Putin has announced that Russian oil output has increased despite the fact that the country has also pledged to remain cooperative with OPEC’s production curbs.
On Wednesday Putin announced that “Russia and OPEC have ‘a common goal’ of keeping the oil market balanced and predictable, and Moscow will continue cooperation under the global supply curbs deal” according to reporting from Reuters. So far Russia has followed OPEC’s guidelines to a certain extent, cutting oil production from September to October, but still did not cut back production as much as the specifications of the deal called for.Well, with those marching orders, Gazprom announces (LNG World News, Nov. 20):
“In October, Russia cut its oil output to 11.23 million barrels per day (bpd) from 11.25 million bpd in September but it was still higher than a 11.17-11.18 million bpd cap set for Moscow under the existing global deal,” said Reuters. “Putin told the forum that Russia’s oil production was growing slightly despite the supply curbs deal but Moscow was not aiming to be the world’s No. 1 crude producer. Currently, the United States is the world’s top oil producer.”
Speaking of the United States, Putin had plenty of words for them as well, accusing the U.S. of ignoring the negative environmental externalities of the nation’s mass-scale shale oil and gas production (fair enough) calling the process “barbaric” and proclaiming that Russia will never use fracking as a means of oil and gas extraction. “We will never frack,” Putin told a representative from Total SA during Moscow’s Russia Calling! conference on Wednesday. “We don’t need to develop shale oil at all. First, we don’t need to increase the supply of oil to world markets, and we have enough oil we can get from the Arctic shelf.” He added, “In spite of all of the economic benefits, we do not need it and we will never do this.”....MORE
Gazprom to advance LNG, sees no prospects in shale gas
Russia’s Gazprom noted that shale gas production outside of North America will not have a significant impact on the global gas market configuration and future export activities of Gazprom even by 2030.At one time it was estimated that Russia stood to profit by over $50 billion in U.N. carbon credits if and when they got around to fixing Gazprom's leaky pipes and valves:
The company noted that the share of the United States in the global shale gas production exceeded 95 percent, in 2018. According to current forecasts, this country will remain the main producer of shale gas for the long term, with just a few other countries expected to continue with the production.....MORE
October 2007
Natural Gas' Dirty Little Secret
Nov. 2, 2007
Fixing Leaky Gas Pipes Seen as Next CO2 Grab
December 2008
Russia to Stockpile $58 Billion of Kyoto CO2 Credits
Unfortunately for Gazprom, Russia and Putin, the emissions trading scheme collapsed and the pipes and valves are leaking to this day.
*From a 2012 post:
Mandy Rice-Davies Sighting at FT Alphaville
When informed by the prosecuting attorney that Lord Astor disputed her version of events and denied having an affair she responded:
"Well, he would, wouldn't he?"From the FT Alphaville post:
Spooks on the payrolls
Posted by Joseph Cotterill on Jul 11 12:26.
...The report slipped out onto the DOL website this week. The Associated Press and Bloomberg have already torn it apart. But then, they would....To the best of my knowledge, Mr. Cotterill is not a former model and showgirl.
We are keepers of the M.R-D flame:
Mandy Rice-Davies Alert: Christina Romer Says Maximum Tax Revenue at 84% Marginal Rate
She would, wouldn't she.
For British politicians of a certain age [often referred to as octo or nona-genarians -ed] the scandal surrounding Secretary of State for War John Profumo's affair with the alleged mistress of a Russian spy was highlighted by the testimony of Miss Rice-Davies, a friend of the alleged mistress, Christine Keeler.
From Wikipedia:
While giving evidence at the trial of Stephen Ward, charged with living off the immoral earnings of Keeler and Rice-Davies, the latter made a famous riposte. When the prosecuting counsel pointed out that Lord Astor denied an affair or having even met her, she replied, "Well, he would, wouldn't he?"We've tried to keep the phrase alive, using it about once per year:...
*****
... One of my favorite usages:
Lord McIntosh of Haringey: My Lords, I am proud of many things that this Government have done. I pause to anticipate the interjection—"He would say that, wouldn't he?"...
—Lords Hansard text for 6 Feb 2002
